I would be interested to hear from somebody who saw the original episode if they find the edits to be obvious or if they affect the story.

The major cuts are in Teaser/Act One...I'm guessing they cut Hope's dream sequence of Bo in the Teaser Act (since that wouldn't affect the storyline), maybe the flashback that Billie has, and perhaps Marlena's dream in Act 3. It has to be stuff that makes the episode look seemless, so those three could be done without anyone realizing they are missing.